Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Receives Average Rating of “Buy” from Analysts

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.50.

Several equities research analysts have recently weighed in on the company. Lifesci Capital assumed coverage on Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 target price on the stock. Wedbush raised their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. UBS Group set a $10.00 price target on Aclaris Therapeutics in a research note on Thursday, April 16th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ ACRS opened at $4.50 on Monday. Aclaris Therapeutics has a fifty-two week low of $1.34 and a fifty-two week high of $5.15. The firm has a market capitalization of $628.47 million, a PE ratio of -8.04 and a beta of 0.76. The stock’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $3.72.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The business had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. On average, sell-side analysts forecast that Aclaris Therapeutics will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the transaction, the insider owned 13,950,000 shares in the company, valued at $63,193,500. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Rock Springs Capital Management LP grew its stake in Aclaris Therapeutics by 0.4% during the 1st quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after buying an additional 18,909 shares during the last quarter. Millennium Management LLC grew its stake in Aclaris Therapeutics by 111.0% during the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Geode Capital Management LLC grew its stake in Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after buying an additional 1,282,042 shares during the last quarter. Kalehua Capital Management LLC purchased a new position in Aclaris Therapeutics during the 1st quarter worth approximately $6,871,000. Finally, Kotler Kevin purchased a new position in Aclaris Therapeutics during the 4th quarter worth approximately $5,135,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.